Seven Money Rules of the Uber Rich
7 Money Rules of the Super Rich
This is Part 1 of a two part report on Rules of Wealth Creation for those interested in becoming significantly wealthier derived from studying billionaires.
In Part 2 I will cover the difference in approaches to wealth creation of the super-rich and the average middle-class millionaire.
#1 You Commit Yourself To Extreme Wealth
The super-rich have a clear sense that money is THE main objective. They prioritize and concentrate on activities that have the highest potential return and assign a lower priority to everything else.
#2 You Engage In Enlightened Self-Interest
The super-rich are focused on reaching their goals and don’t waver or allow themselves to be derailed or distracted by the chance for group happiness or pleas for fairness. At the same time, they regularly do the advance work needed to create an advantage or exploit a weakness in an opponent.
#3 You Put Yourself in the Line of Money
Since most skills and abilities are portable, the super-rich primarily concentrate their skills and talents in those situations that offer the highest returns. They pursue the projects and initiatives that have the highest potential for outsized returns, now and in the future.
#4 You Pay Everyone Involved
The super-rich generally never assume people are willing to work for free – working for personal satisfaction or fulfillment – and therefore they reward handsomely to cultivate loyalty and specific behaviors in their associates and business partners. The key is to identify the value people provide and reward them accordingly.
#5 You Network For Profit and Results
The super-rich practice nodal networking. Nodal networking is where a person has a few very powerful, influential, highly targeted, professional relationships with people who in turn have an array of similar relationships of their own. Therefore they develop and maintain a small network of relationships that lead to power and influence. (The exclusive Big Boys Club).
#6 You Use Your Failures to Improve and Refocus
Failure is inevitable, so it’s not about avoiding it. Most super-rich carefully analyze their failures and do all they can to prevent repeating them.
#7 You Remain Highly Centered
The super-rich realize that they do a few things very well and they know what those skills are. This insight allows them to align their skills and talents in directions that translate into maximum personal wealth creation.
After reading through these rules, you might think that it requires a sociopathic personality to pull this off. Someone who’s a bit ruthless and cutthroat. Perhaps that is true to some degree and could be another barrier that keeps most of us from attaining vast wealth. We simply don’t have the mind or heart for it.